ANNUAL REPORT 2014/2015

OSPRI | FINANCIAL STATEMENTS 2014/2015
INDEPENDENT AUDITOR’S REPORT
TO THE DIRECTORS OF OSPRI NEW ZEALAND LIMITED
Report on the Financial Statements
We have audited the accompanying financial statements of OSPRI New Zealand Limited (the company) and the
group, comprising the company and its subsidiaries, on pages 68 to 86. The financial statements comprise the
statement of financial position as at 30 June 2015, the statements of comprehensive income, changes in equity
and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory
information for both the company and the group.
Directors’ responsibility for the financial statements
The directors are responsible for the preparation of company and group financial statements in accordance with
generally accepted accounting practice in New Zealand and International Financial Reporting Standards that give
a true and fair view of the matters to which they relate, and for such internal control as the directors determine is
necessary to enable the preparation of financial statements that are free from material misstatement whether due
to fraud or error.
Auditor’s responsibility
Our responsibility is to express an opinion on these company and group financial statements based on our audit.
We conducted our audit in accordance with International Standards on Auditing (New Zealand). Those standards
require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance
about whether the company and group financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
company and group financial statements. The procedures selected depend on the auditor’s judgement, including
the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the company and group’s
preparation of the financial statements that give a true and fair view of the matters to which they relate in order
to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the company and group’s internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates, as well as evaluating
the presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Our firm has also provided other services to the company in relation to ITA and other assurance services to
National Animal Identification and Tracing (NAIT). Subject to certain restrictions, partners and employees of
our firm may also deal with the company on normal terms within the ordinary course of trading activities of the
business of the company. These matters have not impaired our independence as auditor of the company. The firm
has no other relationship with, or interest in, the company.
Opinion
In our opinion the financial statements on pages 68 to 86:
• comply with generally accepted accounting practice in New Zealand and
• give a true and fair view of the financial position of the company as at 30 June 2015 and of its financial
performance and cash flows for the year then ended.
Report on other legal and regulatory requirements
In accordance with the requirements of sections 16(1)(d) and 16(1)(e) of the Financial Reporting Act 1993, we
report that:
• we have obtained all the information and explanations that we have required; and
• in our opinion, proper accounting records have been kept by OSPRI New Zealand Limited as far as appears
from our examination of those records.
18 August 2015
Wellington
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